The typical asking rate per listing is in the $30's per square foot per year. The Downtown Chicago submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Chicagoland market, the Downtown Chicago region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 181 listings have been posted online, so you'll want to check back regularly for new listings. About 10% of the available leases in the Downtown Chicago are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,970 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 13 floors. Most buildings in this area were built in 1929 and are Class A.